One of the earliest customers to place a major long-term supply contract with Timminco’s subsidiary, Becancour Silicon for UMG-Si material has terminated the contract. The original agreement for 13,100MT over five years was signed in September, 2007 with an unidentified supplier. This was then Becancour’s third only customer. In November, 2008, the company had confirmed it had 7 long-term contracts which included, Q-Cells, CaliSolar, Canadian Solar and Solar Power Industries.
With a lack of capital, Timminco has issued approximately 3.4 million common shares to the customer in replacement of a payment of an original outstanding deposit of US$3.9 million.